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  • Markel Corp booked net profits of $89.7mn that almost trebled the $30.3mn reported in the prior-year period as strong performance in its London operations helped return the US insurer to an underwriting profit.
  • Errors and omissions (E&O) and directors' and officers' (D&O) underwriters have taken centre stage following the recent bout of high-profile banking scandals ranging from Libor-rigging to Iran-related violations, however industry consensus confirms that they will escape relatively unscathed
  • With just two months left until the annual deadline for UK solicitors' professional indemnity (PI) insurance renewals, sources have described a relatively flat market
  • Syndicate Re, the legacy (re)insurer backed by George Soros, has restructured its top management team in London and joined the growing queue of run-off buyers targeting growth in Europe
  • Legacy heavyweight Enstar has agreed two run-off transactions that will add total assets of more than $230mn to its balance sheet, the Bermudian firm disclosed in its second quarter accounts
  • The criteria proposed for choosing "too big to fail" insurers do not give an incentive to stop risky behaviour and could let companies engaged in systemically risky activities slip through the net, a leading insurance lobby group and thinktank has warned
  • Aon has responded to contractors of the Kleen Energy gas and oil-fired plant who claim the broker procured insufficient defence coverage for their joint $51mn insurance programme
  • Primary and reinsurance rate increases have helped most of the big listed brokers to a quarter of strong and accelerating organic growth, but Willis has continued to underperform relative to its peers...
  • The US government is arguing that ex-AIG head Maurice "Hank" Greenberg and Starr International should have objected to the $85bn AIG bailout when it happened in 2008 and not waited over three years to sue
  • ANV's $49mn acquisition of Flagstone's Lloyd's operations has moved a step closer with regulatory approval from the Financial Services Authority...